285 - images1.cityfeet.com · 2459 roosevelt highway college park, ga 30349 85 285 85 285 ......

HARTSFIELD-JACKSON INTERNATIONAL

AIRPORT

ROOSEVELT HIGHWAY

AIRPORT EXECUTIVE OFFICE PARK 2459 ROOSEVELT HIGHWAYCOLLEGE PARK, GA 30349

85

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02 Property Overview 9Airport Executive Office Park | College Park, GA

AERIAL MAP

2459 Roosevelt Highway | College Park, Georgia

Airport Area Redevelopment OpportunityOFFERING MEMORANDUM

This Offering Memorandum and any subsequent evaluation material you

may be provided (collectively known as the “Offering Memorandum”)

is intended solely for your limited use in considering whether to pursue

negotiations to acquire Airport Executive Office Park (the “Property”) located in College Park, Georgia. The Property is being marketed for sale

by Ackerman & Co. (“Broker”).

The Offering Memorandum contains brief, selected information pertaining

to the business and affairs of the Property and has been prepared by

Broker. It does not, however, purport to be all-inclusive or to contain all

of the information that a prospective purchaser may desire. Broker makes

no representation or warranty, express or implied, as to the accuracy or

completeness of the Offering Memorandum or any of its contents, and no

legal liability is assumed to be implied with respect thereto.

By acknowledgment of your receipt of the Offering Memorandum you

agree that the Offering Memorandum and its contents are confidential,

that you will hold and treat it in the strictest of confidence, that you will

not directly or indirectly disclose, or permit anyone else to disclose, the

Offering Memorandum or its contents to any other person, firm, or entity

(including, without limitation, any principal for whom you have been

engaged), without prior written authorization of Owner or Broker and

that you will not use or permit to be used the Offering Memorandum or

its contents to be copied or used in any fashion or manner detrimental to

the interest of Owner. Photocopy or other duplication is strictly prohibited.

THE OFFERING MEMORANDUM SHALL NOT BE DEEMED TO REPRESENT

THAT STATE OF AFFAIRS OF THE PROPERTY OR CONSTITUTE AN

INDICATION THAT THERE HAS BEEN NO CHANGE IN THE BUSINESS OR

AFFAIRS OF THE PROPERTY SINCE THE DATE OF PREPARATION OF THE

OFFERING MEMORANDUM.

The information provided in the Offering Memorandum has been gathered

from sources that are deemed reliable, but the Broker does not warrant or

represent that the information is true or correct. Prospective offerors are

advised to verify information independently. The Offering Memorandum

is not to be construed as an offer or as any part of a contract to sell the

property.

Furthermore, the inclusion or exclusion in the Offering Memorandum of

information relating to asbestos or any other hazardous, toxic or dangerous

chemical item, waste or substance (hereinafter collectively referred to as

“Waste”) relating to the Property shall in no way be construed as creating

any warranties or representations, expressed or implied by the Broker as

to the existence or nonexistence or nature of Waste in, under or on the

Property, it may create significant legal and/or economic obligations upon

the Owner, lessee and/or other holders of interest in the Property or a part

thereof and you are hereby advised to obtain professional assistance such

as from a consultant, engineer and/or attorney prior to taking an interest

in the Property or a part thereof.

CONFIDENTIALITY / DISCLAIMER

Table of Contents

01 EXECUTIVE SUMMARY Investment Highlights

Demographic Summary

02 PROPERTY OVERVIEW Aerials/Location Maps

Property Photos

Site Plan

Property Description

Tax Plat

05 MARKET OVERVIEW College Park, Fulton County, Georgia

Detailed Demographics

For more information, please contact:STEVE LANGFORD Senior Vice President, Investment Sales 770.913.3955 [email protected]

ACKERMAN & CO. 10 Glenlake Parkway | South Tower, Suite 1000 | Atlanta, GA 30328 770.913.3900 | ackermanco.com

03 REDEVELOPMENT OPPORTUNITY Area Transformation

Accessibility

Atlanta Aerotropolis Alliance

Notable Recent Airport Area Developments

04 FINANCIALS Comparative Property Sales

Comparable Land Sales

EXECUTIVE SUMMARY Investment Highlights

Demographic Summary

01


INVESTMENT SUMMARY

Sale Price: $3,500,000

Price/SF: $55.65

Price/AC: $568,181

Occupancy: 91%

Size: 62,887 SF | 6.16 AC

Signage

5Airport Executive Office Park | College Park, GA01 Executive Summary

Ackerman & Co. is pleased to exclusively present for sale the Airport Executive Office Park located in College Park, GA and positioned less than a mile from the entrance to Hartsfield-Jackson Atlanta International Airport.

INVESTMENT HIGHLIGHTS:

Value : Property can be purchased for less than replacement cost, and with 91% occupancy, it has existing cash flow to offset acquisition cost until time for redevelopment.

Redevelopment : Property is 6.16 acres in size, with a 62,887 SF of office building. When combined with the neighboring 20+ acres of city-owned property and the remaining 15+ adjoining acres, provides 40+ acres of assembled land and a premium site for redevelopment that is less than 1-mile from the entrance into Hartsfield-Jackson Atlanta International Airport.

Location: In addition to its proximity to Hartsfield-Jackson Atlanta International Airport and the Georgia International Convention Center, this site is located near the offices of corporate giants Porsche, Delta Airlines, Chick-Fil-A, Coca-Cola Bottling, Manheim Auctions, AFC Worldwide, Firestone, and Corporate Express.

Accessibility: As one of the more easily accessed properties, it has close access to Interstate 85, Interstate 285, Interstate 75, GA Hwy 29, and Camp Creek Parkway which leads directly to Interstate 20.

Hampton Locust Grove Rd Bill Gardner Pkwy

COLLEGE PARK

3-M

ILE

5-M

ILE

EAST POINT

HAPEVILLE

28575

85

29

1-MILE


6Airport Executive Office Park | College Park, GA01 Executive Summary

3-MILE RADIUS

Population: 58,752 Projected Growth Through 2020: 8.72%Households: 22,790Projected Growth Through 2020: 8.89%Number of Businesses: 388

COLLEGE PARKPOPULATION GROWTH

5 MILES

(in

thou

sand

s)

3 MILES

0

25

50

75

100

125

150

175

58,7

52

155,

360

200

Demographics: With a population of 58,752 within a 3-mile radius of the site with growth prospects of 8.72% in the next 5 years, the fact there are only about 388 businesses within 1-mile radius of this site and Hartsfield-Jackson Airport International Airport shows a tremendous opportunity for additional commerce for an area clearly underserved.

DEMOGRAPHIC SUMMARY

5-MILE RADIUS

Population: 155,360 Projected Growth Through 2020: 7.74%Households: 60,892Projected Growth Through 2020: 7.82%Number of Businesses: 2,742

PROPERTY OVERVIEW Aerials Property Photos Location Maps Site Plan Property Description Tax Plat

02


HARTSFIELD-JACKSON INTERNATIONAL

AIRPORT

ROOSEVELT HIGHWAY


85

285

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AERIAL MAP


AERIAL VIEWS


PROPERTY PHOTOS

Cartersville

McDonough

Covington

Oxford

Conyers

Loganville

Dacula

Sugar Hill

Buford

FloweryBranchCumming

Alpharetta

F U LT O N

D E K A L B

B A R T O WH A L L

Lawrenceville

DowntownAtlanta

C O B B

Kennesaw

Decatur

113

41

400

675AIRPORT EXECUTIVE OFFICE PARK

2459 ROOSEVELT HIGHWAYCOLLEGE PARK, GA 30349


LOCATION MAP

ROOSEVELT HIGHWAY CSX RAIL LINE


SITE PLAN

Hartsfield-Jackson Atlanta International Airport

Address: 2459 Roosevelt Highway College Park, GA 30349

Parcel ID: 13-0036-LL-127-3

County: Fulton

Submarket: North Clayton/Airport

Zoning: C-4

Size: 62,887 SF Total | 3 Buildings

Site Area: 6.16 acres

Year Built: 1972 | Renovated 1988

Construction: Masonry

Utilities: All Public Utilities Available

Tenancy: Multi-Tenant


PROPERTY FEATURES


TAX PLAT

ROOSEVELT

HIG

HWAY / GA H

WY 29

03 REDEVELOPMENT

OPPORTUNITY Area Transformation

Accessibility

Atlanta Aerotropolis Alliance Notable Recent Airport Area Developments


Porsche North American Headquarters

16Airport Executive Office Park | College Park, GA03 Redevelopment Opportunity

THE OPPORTUNITY:

Area Transformation: The City of Atlanta and surrounding municipalities are growing by leaps and bounds. Perhaps, no area is poised for more near term growth than the areas surrounding Hartsfield-Jackson Atlanta International Airport. This area includes the cities of College Park, East Point, Hapeville, and Atlanta. It also encompasses parts Fulton and Clayton counties. Since renowned auto manufacturer Porsche chose to build its North American Headquarters adjacent to Hartsfield-Jackson Airport, many are taking note of the area's unrealized potential.

Optimism for the areas around the airport is at an all-time high. Leading the way is Hartsfield-Jackson Atlanta International Airport itself which recently announced a $6 billion dollar expansion and improvement plan. The project is part of a 20-year growth plan and includes a new 400-room luxury hotel, terminal upgrades, a new concourse, new parking structures, a new runway, and a face lift for the pick-up and drop-off areas. The City of Hapeville has announced plans for a $500 million dollar development that will transform its city center into a mixed-use area that includes new residential, traditional office and retail, restaurants, and an entertainment venue. The 5-star, 214-room Solaris Hotel next to Porsche North American Headquarters has opened, the BMW corporate training facility is near completion, and the City of College Park recently broke ground to construct a multipurpose arena where the Atlanta Hawks professional basketball developmental league will begin play in 2019.

Aerial showing interstate access

285

85

85

285

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Accessibility: As an assemblage, and possibly the last remaining large tract of land to be developed located less than a mile from the entrance to Hartsfield-Jackson Atlanta International Airport, this site has great ingress and egress. It can be accessed via three separate streets including Roosevelt Highway/US Hwy 29 to the south and east, Riverdale Road to the north, and Hershel Road to the west.

There is tremendous access to this site with proximity to three of major transportation arteries including interstates I-285, I-85, and I-75. Also, US Hwy 29 which runs directly in front of the site provides access as far south as Pensacola, FL and as far north as Elliot City, Maryland. In metro Atlanta, US Hwy 29 passes by notable universities including Georgia Tech, Emory University and the University of Georgia. Approximately 2/3 of the U.S. can be accessed from this location in 3-days by truck and 2-hours by plane.

This site is further enhanced with close proximity to the CSX Railroad Terminal that is less than 10 minutes miles away. Atlanta is a major hub for CSX rail lines throughout Georgia and passes through several key cities including Augusta to the east, Savannah to the southeast, Valdosta to the south, LaGrange/West Point to the west, and Dalton to the north.


HARTSFIELD JACKSON INTERNATIONAL AIRPORT

5 - 10 MINUTES AWAY

AviationIntergrator/CEP

Fast-Cycle Logistics ICT Technology

Bio-Logistics

10 - 15 MINUTES AWAY

AerospaceGround Logistics

Value-Added Destination Retail & Hospitality

R & D Bio-Life Sciences & Diagnostics


ATLANTA AEROTROPOLIS ALLIANCE:

Clearly, the largest driver of increased economic activity surrounding Hartsfield-Jackson Atlanta International Airport is the recently launched Atlanta Aerotropolis Alliance. Because of the powerful economic engine that is Hartsfield-Jackson Atlanta International Airport, the Atlanta Aerotropolis Atlanta was formed to leverage the airport as a central business district and transform the locale in its vicinity into a world-class area that can attract those companies and organizations that could benefit from being near the world’s busiest airport.

The Alliance commissioned a detailed study to assess the economic strengths of those areas surrounding Hartsfield-Jackson Atlanta International Airport. Their findings identified the following highest and best use opportunities for these areas:


Information from the 114-page report is now the blueprint for the area and serves as a guide that provides direction quality and sustained development that benefits the community and simultaneously supports the airport.

The Atlanta Aerotropolis Alliance is comprised of businesses, non-profits, local governments, and other interested parties in the metropolitan Atlanta area including: Delta Airlines, Porsche Cars of North America, Georgia Power, Duke Realty, SunTrust Bank, Chick-Fil-A, MARTA, and the cities of College Park, East Point, Hapeville and Atlanta.

Gateway CenterAirport City Porsche Cars North America

Expansion of MARTAThe PAD on Harvard Fort McPherson

04 FINANCIALS

Comparable Property Sales Comparable Land Sales


04 Financials 21Airport Executive Office Park | College Park, GA

COMPARABLE PROPERTY SALES

3848 Northwest DrCollege Park, GA 30337

Type Office

Size 33,562 SF

Sold 1.12.2016

Price $1,900,000

Price/SF $56.61

1500 Cedar Grove RdConley, GA 30288

Type Office

Size 50,000 SF

Sold 2.22.2016

Price $4,050,000

Price/SF $81.00

4245 International PkyHapeville, GA 30354

Type Office

Size 43,414 SF

Sold 3.31.2016

Price $6,350,000

Price/SF $146.26

4

1 2

3

510 Plaza DrCollege Park, GA 30349

Type Office

Size 46,896 SF

Sold 4.15.2016

Price $2,681,109

Price/SF $56.17

04 Financials 22Airport Executive Office Park | College Park, GA

COMPARABLE LAND SALES

South Central AveHapeville, GA 30354

Sold 2.27.2017

Price $5,250,000

Size 10.40 AC

Price/AC $504,807

834 Cleveland AveAtlanta, GA 30344

Sold 3.30.2016

Price $1,625,000

Size 1.63 AC

Price/AC $996,929

2633 Church StAtlanta, GA 30344

Sold 6.22.2016

Price $280,000

Size 766 SF

Price/AC $365.54

1 2

3

Porsche AveHapeville, GA 30354

Sold 12.30.2015

Price $3,184,000

Size 3.98 AC

Price/AC $799,999

4

MARKET OVERVIEW College Park, GA Detailed Demographics

05


05 Market Overview 24Airport Executive Office Park | College Park, GA

COLLEGE PARK, GEORGIA

Named one of Atlanta Magazine’s “Best Places To Call Home” in April 2003, the City of College Park has become one of the most exciting communities in the greater metropolitan Atlanta area in which to live.

A well-established community with an individuality all its own, College Park, located near the Hartsfield-Jackson Atlanta International Airport, Interstates I-85 and I-285, the CSX Railroad and Metropolitan Atlanta Rapid Transit Authority (MARTA), residents and visitors alike will find that this revitalized City offers the best of Southern hospitality in its city services, local restaurants, lodging accommodations, parks and recreation, and community events.

Benefits

College Park has all the benefits of a large city, while preserving the neighborliness of a hometown. Its close proximity to Atlanta provides residents and visitors alike with easy access to colleges and universities, shopping and other places of interest. The city also boasts being home to the largest independent school in the continental United States, Woodward Academy.

Urban Historic District

Originating from a land grant awarded in 1846, College Park has the fourth largest urban historic district in Georgia with 867 structures on the Historic Register. The City’s historical collection consists of homes, monuments, businesses, schools, churches, parks, a cemetery, government building, and railway station. A city where growth and progress embrace the past to enhance the future, downtown College Park anchors the city with its historic Main Street business district. Through assistance from the College Park Development / Main Street Office, new specialty businesses are replacing once vacant storefronts and transitional businesses. The new Georgia International Convention Center is a state-of-the-art facility owned and operated

by the City of College Park, and is the second largest exhibit and meeting space in the state.

Benjamin Banneker High School

Bethune Elementary School

Frank S. McClarin Alternative High School

Harriet Tubman Elementary School

Heritage Elementary School

Main Street Academy - K - 2nd

Main Street Academy - 3rd - 7th

Ronald E. McNair Middle School

Woodland Middle School

Woodward Academy

Georgia International Convention Center, College Park

SCHOOLS IN COLLEGE PARK, GEORGIA

05 Market Overview 25Airport Executive Office Park | College Park, GA

DETAILED DEMOGRAPHICS

1 MILE 3 MILES 5 MILES

2015 Estimated Population 3,260 58,752 155,3602020 Projected Population 3,464 63,877 167,3792010 Census Population 3,421 53,075 145,474Growth 2010 - 2015 -4.71% 10.70% 6.80%Growth 2015 - 2020 6.26% 8.72% 7.74%2015 Median Age 34.0 31.90 33.22015 Estimated Households 1,279 22,790 60,8922020 Projected Households 1,362 24,815 65,6512010 Census Households 1,331 20,512 56,965Growth 2010 - 2015 -3.91% 11.11% 6.89%Growth 2015 - 2020 6.49% 8.89% 7.82%2015 Average Household Income $48,291 $47,978 $49,6112015 Average Household Size 2.5 2.6 2.52015 Housing Units 1,424 25,556 66,9592015 Owner Occupied Units 34.40% 39.51% 44.73%2015 Renter Occupied Units 65.60% 60.49% 55.27%

Downtown College Park

FOR MORE INFORMATION, PLEASE CONTACT:

STEVE LANGFORD Senior Vice President, Investment Sales 770.913.3955 | [email protected] ©2016 Ackerman & Co. All rights reserved.

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